• News and developments on Electricity
    • What changes in energy as of 01/01/2024
      • What does the end of the exceptional measures and the discontinuation of the monthly prices measure mean?

        In the context of a series of emergency measures, which were determined by the Ministry of Energy under article 138A of the Law 4951/2022, as of January 1st, 2024, the announcement of monthly prices on every 20th day of the previous month shall cease. Specifically, the latest announcement of monthly prices concerns the prices of December 2023 announced on 20/11/2023.

        At the end of the above procedure, based on a new legislative regulation by the State (article 17 of the Law 5066/2023), each Supplier sets a Special Electricity Supply Tariff for Electricity Customers who were subject to the regulations of article 138A of the Law 4951/2022 (price announcement on the 20th of the previous month). The new Special Tariffs will start from 1/1/2024 and, according to the instructions of the Ministry of Environment and Energy, will last for one year until 31/12/2024. After the end of its term of validity, in case the Customer does not select any of the Commercial Programs available, it is accepted by the Customer that the latter will automatically be switched to the charges of the Commercial Program "Enerwave Smart".
      • What changes in electricity tariffs as of 01/01/2024 and why?

        As of January 1, 2024, all customers who had a product with a pre-announced price on the 20th of the month, automatically switch to the Special Tariff set by the State (article 17 of the Law 5066/2023, Decision No. Ministry of Environment and Energy/eGovernment Directorate/120637/2107).
        Customers have the right to object and not switch to the Special Tariff until 31 January 2024. This means that customers can choose to switch to any other product they wish among those commercially available.
        Finally, as of 1.1.24, each commercially available product, depending on the category to which it belongs, will be specially marked. Read more about the new markings in the questions below.
         
      • What are the markings on electricity tariffs and what do they mean?

        Four distinct product categories are created, which will be offered by all suppliers without exception.

        • Green marking for the Special Tariff, as defined by the State, in which the supplier will announce the Final Supply Price by the first day of the month of application, i.e. consumers will know every 1st of the month the price they will pay for the month of consumption.
        • Yellow marking for Floating Products. This category includes electricity products with variable supply charges (€/kWh), the price of which varies according to fluctuations in the wholesale electricity market. These are either pre-announcement or outturn price announcement products.
        • Blue marking for Stable Products with fixed-term. These products have a stable supply price (€/kWh) for the period of validity of the contract.
        • Orange marking for Dynamic Products. Dynamic Products include tariffs whose price changes based on intraday wholesale electricity market prices. A prerequisite for offering these tariffs is the installation of a smart meter.
      • How will the products be distinguished and how will I know which product I have joined?

        As of 1/1/24, the new markings for each category of available product will come into effect. This special marking will be reflected in the contract of your product, on the product pages of Enerwave.gr, in the advertisements you will see and on the bill you receive each month, either by mail or e-bill.

        Regarding your bill, you will be able to find the corresponding marking color next to the payable amount on its first page.

        Each Electricity Supply product is marked according to the following color markings:

        • Fixed-Term Stable Price Products are marked in blue
        • The Special Tariff of the Ministry in green color
        • Other floating price supply products in yellow
        • Dynamic pricing products in orange

         
      • Why did I switch to the Special Tariff? Can I switch product if I want to?

        Customers who have not chosen a different product and have not objected to switching to the special tariff by 31 January 2024, automatically switch to this tariff.
        Therefore, in case you decide that you do not want to remain on the Special Tariff, you have the option to choose the product that suits your needs.
        From 01/12/2023 to 31/01/2024 you can state your objection to join the Special Tariff and at the same time select the Enerwave Smart product here.
      • How are the charges in the Special Tariff formed as of 01/01/2024?

        The Supply Charge of the special tariff will result from a stable part (Basic Supply Price) and a floating part (Fluctuation Mechanism), and will be reflected in the electricity consumption bill as a single price (Final Supply Price).

        The final price of each month will be announced on our website as well as on the corresponding website of the Regulatory Authority for Waste, Energy and Water (RAEWW) by the 1st day of each month of consumption.

        In detail, in the Special Tariffs, the charges consist of:

        • The monthly fixed charge
        • Final Supply Charge, which will include the Basic Supply Charge, the Fluctuation Mechanism and any additional discount announced each month
      • What is the formula for calculating the Final Billing Price in the Special Tariff?

        The formula is described below:

        In the formula for calculating the Final Charge Price, a Fluctuation Mechanism has been introduced that depends on the Electricity Market Clearing Price of the previous months.

        -Final Supply Price M: The sum of the Basic Supply Price & the Fluctuation Mechanism for the month M, in €/MWh
        -Basic Supply Price: Price in €/MWh (stable for at least 6 months)
        -The fixed charge & discounts may change every month with an announcement on our website and information about this change in the 1st bill that follows
        -MCPM-1: The Price that includes the Electricity Market Clearing as published in the Hellenic Energy Exchange for the month M-1, expressed in €/MWh
        -MCPM-2: The Price that includes the Electricity Market Clearing as published in the Hellenic Energy Exchange for the month M-2, expressed in €/MWh

        Fluctuation mechanism:
        a: Coefficient freely chosen by the Supplier
        b: a * (MCPM-1 – MCPM-2). It is obtained by multiplying the coefficient a by the difference of the previous month's MCP (MCPM-1) reduced by the MCP of the previous month (MCPM-2). The coefficient b shall be assigned a zero value for the first month of application, i.e. January 2024
        -Lu and Ll: The limits of the security area, within which the fluctuation mechanism is not activated and therefore the Supply Charge is formed on the basis of the Basic Supply Price.

        When and how is the Fluctuation Mechanism activated?

        -If the MCP is outside the limits, the bill reflects the amount that will result from the fluctuation mechanism
        -Zero charge, when the variable MCP is between the lower and upper limits

        What is MCP?

        MCP is the market clearing price of the Energy Exchange's Day-Ahead Market, which is published daily on an hourly basis on the website of the Hellenic Energy Exchange. The arithmetic mean value of these MCP prices shall be used to calculate the variable charging part, shall not be determined by the supplier and shall be common to the whole market. Depending on the monthly rates of the MCP, the fluctuation mechanism and the subsequent possible credit or debit to your bill are adjusted.

        Example of how to calculate the final total energy charge for August 2023:

        Indicative consumption: 300 kWh

        MCPJuly: €0.11268 / kWh

        MCPJune: €0.09149 / kWh

        Total energy charge for August 2023:

        Fluctuation mechanism charge:
        1.3115 x (0.11268 € / kWh - 0,040) + 1.3115 x (0.11268 € / kWh - 0.09149 € / kWh) = 0.12311 € / kWh

        Energy charge: (€0.089 / kWh + €0.12311 / kWh) x 300 kWh = € 63.63

        Fixed charge: €5

        Total energy charge for August 2023: €68,63
      • How will the supply charge be reflected in the electricity bills of the Special Tariff?

        In the consumption bills related to the Special Tariff, suppliers are obliged to reflect uniformly the Final Supply Price, per billing month.
         
      • When will I be informed about the energy price I will pay in the Special Tariff?

        As of 01/01/2024 the Final Supply Price of the special tariff will be announced every month in advance, by the 1st day of the month, on our website as well as on the corresponding website of RAEWW. For example, on 01/02/2024 the price applicable for February 2024 shall be announced.
         
      • I joined a Social Tariff, will I continue to receive the discount?

        That's right, the Social Tariff discount is maintained as usual for all eligible customers.
         
      • How can I choose which product I want to switch to?

        From 01/12/2023 to 31/01/2024 you can state your objection to join the Special Tariff and at the same time select the Enerwave Smart product here.